Fitch drops Hurriyet

Fitch Ratings said it has downgraded Hurriyet's long-term foreign and local currency issuer default ratings to BB- from BB.

Both the outlooks have been changed to negative from stable.

The agency said it has also downgraded Hurriyet's national long-term rating to AA-(tur) from AA(tur) and revised its outlook to negative from stable.

According to Fitch, the rating action reflects that on the parent company, Dogan Yayin Holding, which was downgraded to B+ from BB-.

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